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Dec 31, 2012
12/12
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>> i think there is a misconception when you talk about the bush tax cuts which are the current rates we're operating under, it only hits folks at the top of the income scale, bush tax cutting all the way to the bottom, all the way up to the top. pretty much anybody who has an income is going to be paying more in taxes if there is not any type of deal to extend current rates. >> shifting gears, it has to do little with the fiscal cliff. news about the secretary of state, she in the hospital tonight. can you update us on her condition. >> this is statement from secretary of state spokesperson, hillary clinton is in the hospital after doctors discovered a blood clot stemming from a concussion she sustained several weeks ago. her doctors will continue to assess the situation in the next 48 hours and see if any further action needs to be taken. >> reporter: okay, rich. fox business network here all night. we'll be monitoring potential of a deal and also watching some of the asian markets, hong kong just now beginning to trade. we'll update you at the 10:00 p.m. hour. we want to remind you
>> i think there is a misconception when you talk about the bush tax cuts which are the current rates we're operating under, it only hits folks at the top of the income scale, bush tax cutting all the way to the bottom, all the way up to the top. pretty much anybody who has an income is going to be paying more in taxes if there is not any type of deal to extend current rates. >> shifting gears, it has to do little with the fiscal cliff. news about the secretary of state, she in the...
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Dec 24, 2012
12/12
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it looks like we're going to get a little bit of extension it it of the tax, the bush tax credits or the bush tax cuts and see unemployment benefits, you know, extended for about 2 million people. and as a result, we're going to see a lot of discussion and little results except higher taxes, that's for sure. >> and one thing that surprised me, we know that taxes will remain the same until the end of the year. we assume that taxes are going to go up after the first of the year. so, why aren't people cashing out right now if they have gains, cash out right now, collect your gains at the lower tax rates and buy back in in january depending on what happens with the fiscal cliff? >> yeah, i mean, i actually have a lot of clients where we are literally selling their portfolio, capturing their cost basis now and reestablishing a new cost basis because we know for a fact we'll see 3.8% next year just from the obamacare tax and other taxes and we're seeing people do that. you're not necessarily seeing it in the market because about, i think something close to very, very small percentage of th
it looks like we're going to get a little bit of extension it it of the tax, the bush tax credits or the bush tax cuts and see unemployment benefits, you know, extended for about 2 million people. and as a result, we're going to see a lot of discussion and little results except higher taxes, that's for sure. >> and one thing that surprised me, we know that taxes will remain the same until the end of the year. we assume that taxes are going to go up after the first of the year. so, why...
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Dec 30, 2012
12/12
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of tax you more, cat your services. what you do did you will pay more for my note that your pension and benefits. tom: how does all this in? we wind up with pitchforks? >> it's happening now. they don't call it class warfare. that is what is going on over there. again, there is no air spring. there's nothing about a pro-democracy ment. r tofew had much too much and way too many head was too little. the people in the street that one piece of the pipe command it's going on around the world. and for some reason people are oblivious to it. look in this country, college graduates, the income is declining eight or 0% since the recession. you can't find a job. 3 percent of them have jobs paying high-school wages. so you're right. it's not getting better, and again, we have the incompence in wasington making things worse. tom: but the numbers, you look at the numbers and you see those numbers, they are inching up a little bit. we are getting a little bit of growth. we have a little better ventilation. we have a little bit of a
of tax you more, cat your services. what you do did you will pay more for my note that your pension and benefits. tom: how does all this in? we wind up with pitchforks? >> it's happening now. they don't call it class warfare. that is what is going on over there. again, there is no air spring. there's nothing about a pro-democracy ment. r tofew had much too much and way too many head was too little. the people in the street that one piece of the pipe command it's going on around the world....
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Dec 29, 2012
12/12
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taxes every year. you're looking it over $300 billion. ." tom: upside-down by trillion closet -- a trillion dollars. not even close fixing the deficit spending. still adding to the debt under republican and democrat programs >> this kind of class warfare rhetoric is serving a purpose. the reality is the proposed tax increases will fund the federal government for approximately eight days. it might make people feel good and that's a reason to pass it. frankly, i don't hear any politicians talking reality but the fiscal problems facing the country which is democrat or republican. tom: do you have any hope that the blame game can be put aside so they can get some work done? in the private sector these people would be fired. >> absolutely. this is a do nothing congress, the least active in fur years when it comes to policy making, and the reason we are here is that the delay decisions for the past two years. i do think that something will happen because if it doesn't the consequences will be so severe in th
taxes every year. you're looking it over $300 billion. ." tom: upside-down by trillion closet -- a trillion dollars. not even close fixing the deficit spending. still adding to the debt under republican and democrat programs >> this kind of class warfare rhetoric is serving a purpose. the reality is the proposed tax increases will fund the federal government for approximately eight days. it might make people feel good and that's a reason to pass it. frankly, i don't hear any...
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Dec 31, 2012
12/12
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let's start with tax revenue. these are the nation's tax revenues. what you have your is just over 2 trillion in income. that's all it is really. and look at these euros. a very big number. the spending in the federal budget. you will notice to these numbers bigger than that. not good. the deficit, like how much debt or adding. over a trillion. just when you're. federal government running a a tab of a trillion. we talk about this number of the time. let's get this zero's again. a very big number. tough to get your arms around these numbers. when you see it on a piece of paper it's easier. i thought it would be even easier if we thought about one american household. what if each of those numbers translate it into one family. if you ran the household like the federal government here is what you would be looking at. your family income, 24,400. your spending, 305,400. look at this. what's going on? you can't do this. if you were spending 35,000 only had 24,000 coming in, that's a nightmare. the new debt would be 10,900. it's a nightmare. so let's talk ab
let's start with tax revenue. these are the nation's tax revenues. what you have your is just over 2 trillion in income. that's all it is really. and look at these euros. a very big number. the spending in the federal budget. you will notice to these numbers bigger than that. not good. the deficit, like how much debt or adding. over a trillion. just when you're. federal government running a a tab of a trillion. we talk about this number of the time. let's get this zero's again. a very big...
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tax giving tax cuts to people --out melissa: talking about raising a taxes, i agreegr with you. we have to have people investing, buying, so raising taxes on anyone is then super i crazy. >> yeah, buts if you take tax increases oneople spendingss less because they already got af whole buh of money and investing in ways to get people who do not have as much to spend more, at's efficient. that makes sense. go ahead.ney. melissa: rich people spend a lot of money. >> they have the mon, they are spending it.they they will not spend less because they have a marginal tax rate increase. it's not like all the sudden, you know, bloomberg or romney says we can't go to dinner next week. they will still spend money. it's a matter ofaying how doho we get people who are not at that level to have conditions where they can spend. melissa: in the 80s, they lower tax rates issue and revenues go up, and revenues, 1981 to 1988, from $599 billion to $909 # billion. i'm just saying if the problem's revenue and you want more money in treasury, there seems that's a period of time we did it ti defentivel
tax giving tax cuts to people --out melissa: talking about raising a taxes, i agreegr with you. we have to have people investing, buying, so raising taxes on anyone is then super i crazy. >> yeah, buts if you take tax increases oneople spendingss less because they already got af whole buh of money and investing in ways to get people who do not have as much to spend more, at's efficient. that makes sense. go ahead.ney. melissa: rich people spend a lot of money. >> they have the mon,...
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Dec 24, 2012
12/12
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is that enough to offset what could be higher taxes? >> many are concerned with taxes. a high percentage of them. i would say the fear of the unknown is probably the biggest challenge. for a franchisee, there is tremendous opportunity out there. taxes or obamacare will not influence negatively those who will do a great job opening their own business. lori: because of the political climate, you do see shifts in the types of franchises that are the most profitable. child care, senior citizen care, moving companies -- why is that? >> it will absolutely be the year of that. there are lower startup costs. they are looking at businesses that will be able to make the most money. obviously, being passionate about it is critical. at the end of the day, you will make more dollars with a service brand than anything else. lori: explain that to me in more detail why the restaurant industry is taking a back seat? >> we did not say it is taking a backseat, more savvy entrepreneurs are getting into the market now. financially, you will take a lower net percentage typically been on a se
is that enough to offset what could be higher taxes? >> many are concerned with taxes. a high percentage of them. i would say the fear of the unknown is probably the biggest challenge. for a franchisee, there is tremendous opportunity out there. taxes or obamacare will not influence negatively those who will do a great job opening their own business. lori: because of the political climate, you do see shifts in the types of franchises that are the most profitable. child care, senior...
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Dec 28, 2012
12/12
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if we go over the fiscal cliff, what does it mean for you, income tax, estate tax, dividend tax, big changeses, yes, they are coming. can you protect yourself from the government? probably not, but we'll detail what's going to happen to you next. [ male announcer ] at scottrade, you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying... [ all ] i'm with scottrade. a body at rest tends to stay at rest... while a body in motion tends to stay in motion. staying active can actually ease arthritis sympto. but if you have arthritis, staying active can be difficult. prescription celebrex can help relieve arthritis pain so your body can stay in motion. because just one 200mg celebrex a day can provide 24 hour relief for many with arthritis pain and inflammation. p
if we go over the fiscal cliff, what does it mean for you, income tax, estate tax, dividend tax, big changeses, yes, they are coming. can you protect yourself from the government? probably not, but we'll detail what's going to happen to you next. [ male announcer ] at scottrade, you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts...
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Dec 28, 2012
12/12
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david: taxes on dividends could be rising. chairman of southern company who owns a bunch of utility companies, why that could spell trouble for more than just investors. >> liz joins us telling us which big companies will be first to take a costly fall if we, in fact, do go off that cliff. ♪ [ indiinct shouting ] ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indiinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] ...you'll bust your brain b b. ♪ all onhinkorswim from td ameritrade. ♪ hi hi ♪(whistling tune) ♪("don't worry be happy") shy david: it was wild in the pits at the cme was closing in chicago. sandy smith is there. what's going on, sandy? >> this is the stuff you don't see in a trade desk in the office or at home. the trade action picked up in the final minutes here. the s&p500 index of 500 stocks we watch every day closed at the top of the hour, at 14 # 0 # 2, hung on to the 1400 level. the futures, the pit i'm in, contin
david: taxes on dividends could be rising. chairman of southern company who owns a bunch of utility companies, why that could spell trouble for more than just investors. >> liz joins us telling us which big companies will be first to take a costly fall if we, in fact, do go off that cliff. ♪ [ indiinct shouting ] ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indiinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting,...
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Dec 24, 2012
12/12
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is a fat tax like the one that they have in europe the way to do it? a vat tax? a value added tax? is that story coming up next. how do traders using technical analysis streamline their process? at fidelity, we do it by merging two tools into one. combining your customized charts with leading-edge analysis tools from recognia so you can quily spot key trends and possible entry and exit points. we like this idea so much that we've applied for a patent. i'm colin beck of fidelity investments. our integrated technical analysis is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. >> when you start talking about an issue of treatment of mental illness, the mentally ill should they have access to guns? well, there is a rational response that most americans have somebody who is not thinking clearly should not have a gun in their hands. but how do you define and that codify that into law? that's a much trickier issue. david: that was scott rasmussen with the latest poll on gun control and don't forget to tune into varney 9
is a fat tax like the one that they have in europe the way to do it? a vat tax? a value added tax? is that story coming up next. how do traders using technical analysis streamline their process? at fidelity, we do it by merging two tools into one. combining your customized charts with leading-edge analysis tools from recognia so you can quily spot key trends and possible entry and exit points. we like this idea so much that we've applied for a patent. i'm colin beck of fidelity investments. our...
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Dec 31, 2012
12/12
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the alternative minimum tax, the state tax rose to 40 percent with a $5 million exemption. another one-year extension of long-term unemployment benefits. right now the issue is those spending cuts, the automatic spending cuts, the $94 billion known as the sequestered. but that we bring in a republican congressman from new jersey. thank you for joining us. the framework adjusted tailed, do you think it's something you could get behind? >> the president has repeatedly famously said that we can cut our way to prosperity and, of course, the flip side of that is even more true which is that we cannot tax our way to prosperity although mcconnell said that the tax portion is already worked out and agree upon, if you think about it, what have they really agreed upon? the agreed upon taxing small businesses continuously. the continuing for the tax preferences for all large businesses. large businesses get away easy, scot-free. your small businesses have to see their taxes go up. i don't think that's the way to bring it to prosperity or create more jobs or turn the economy around. >>
the alternative minimum tax, the state tax rose to 40 percent with a $5 million exemption. another one-year extension of long-term unemployment benefits. right now the issue is those spending cuts, the automatic spending cuts, the $94 billion known as the sequestered. but that we bring in a republican congressman from new jersey. thank you for joining us. the framework adjusted tailed, do you think it's something you could get behind? >> the president has repeatedly famously said that we...
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Dec 27, 2012
12/12
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adam: tax it. >> tax it. adam: sound like t scene in casablanca where the inspector says, i'm shock, shocked, to find out about gambling in this establishment. and ear here is your winning. >> it is hypocritical. adam: what do you think happens. >> at the end of the day supreme court will decide this. if the federal government wants to intervene my guess it goes to the supreme court and they have to decide under the constitutionan you allow something in nevada and not allow it in new jersey if the people in new jersey voted for it? basically there was a referendum in new jersey and that was approved by two to one where the people said, yes we want sports betting. so. adam: they allow some things in nevada not appropriate for family hour that i don't think people in new jersey want but we won't go there. last word on this this won't happen anytime soon. how many years out are we talking? >> i think you're probably right altugh it is possible. monmouth park is talking about getting started and waiting to see wh
adam: tax it. >> tax it. adam: sound like t scene in casablanca where the inspector says, i'm shock, shocked, to find out about gambling in this establishment. and ear here is your winning. >> it is hypocritical. adam: what do you think happens. >> at the end of the day supreme court will decide this. if the federal government wants to intervene my guess it goes to the supreme court and they have to decide under the constitutionan you allow something in nevada and not allow it...
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Dec 30, 2012
12/12
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eye 188
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a sample of the device of a lander that is being tested negotiation government money, none of your taxes involved, 80ive innovation driven by entrepreneurs taking the risk. competition if a car that gets 10miles per hour has drawn nearly 100 entrepreneurs. the design competition was first, the cars had to passthe looks test. these cars did. next is the race. 54 teams will cpete to win. the manwho raised the money if the prize and organizeed the organization is here. >> we have entrepreneurs and scientists and engineers to do what only government could do. >> peter joins us from los angeles. you ha new prizes now? >> we do. we are having a lot of fun figuring where there could be breakthroughs that you not going on or being driven by large companies or government that is challenging entrepreneurs to make the impossible, possible. >> where do u get the money? who put up the x prize? >> the money, really, comes from a rae of different groups, including individuals, and philanthropists and competitions or large corporations, progressive insurance or companies such as that, wanting to make a
a sample of the device of a lander that is being tested negotiation government money, none of your taxes involved, 80ive innovation driven by entrepreneurs taking the risk. competition if a car that gets 10miles per hour has drawn nearly 100 entrepreneurs. the design competition was first, the cars had to passthe looks test. these cars did. next is the race. 54 teams will cpete to win. the manwho raised the money if the prize and organizeed the organization is here. >> we have...
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Dec 31, 2012
12/12
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eye 168
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, tax legislation originates, to basically hold the line on taxes. so i feel like the elector rate made it clear that republicans you're job to protect us from economy-strangling tags increases. this is very quick path for the republicans back into the minority in 2014. ashley: is all this a big forerunner to a big debate over the debt ceiling? >> interesting that you bring up the debt ceiling. i think that's what the republicans can do. if they basically walk away from a bad deal they have a lot more power going into 2013 in that, basically president obama is going to have to deal with them on the debt ceiling. why not negotiate from a position strength in 2013? any tax increases now are retroactive, rather than give in and basically do great harm to your brand in the near term in return for nothing? ashley: basically what lesson do we learn, john, if we indeed take your advice and walk away or republicans walk away and just fall off the cliff? >> well the lesson we learn americans will still get up on january seg and go to work because what is they
, tax legislation originates, to basically hold the line on taxes. so i feel like the elector rate made it clear that republicans you're job to protect us from economy-strangling tags increases. this is very quick path for the republicans back into the minority in 2014. ashley: is all this a big forerunner to a big debate over the debt ceiling? >> interesting that you bring up the debt ceiling. i think that's what the republicans can do. if they basically walk away from a bad deal they...
142
142
Dec 26, 2012
12/12
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eye 142
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the lapse of the tax cuts means the top tax rate reverts to 39.6 from 35% now. taxes would also go up for lower income earners. the maximum low rate would revert to 15% from 10% now, and investors see capital gains rate revert from 20%, revert to 20%, rather from 15% now. depending on what analysis you look at, average families could pay $2,000 to $4,000 more in taxes next year. ashley? ashley: that's the why it's called the cliff. thank you, peter. >> you bet. ashley: the speaker stuck in a storm, but the phones do work. bell ringing soon, and amazon known for customer service, especially over the holidays, but it's not cared over to the web hosting business. merry christmas for hollywood. ticket sales going through the roof. details when "count down" returns. ♪ ♪ >> well, earlier, of course, we touched on the weakness in retail after disappointing data. well, technology shares under pressure, especially the large cap names. the selling could be due to uncertainty on a budget deal and folks just wanting to lock in gains, potentially, of course, before taxes
the lapse of the tax cuts means the top tax rate reverts to 39.6 from 35% now. taxes would also go up for lower income earners. the maximum low rate would revert to 15% from 10% now, and investors see capital gains rate revert from 20%, revert to 20%, rather from 15% now. depending on what analysis you look at, average families could pay $2,000 to $4,000 more in taxes next year. ashley? ashley: that's the why it's called the cliff. thank you, peter. >> you bet. ashley: the speaker stuck...
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Dec 31, 2012
12/12
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>> they will increase taxes. we have voted to not raise taxes on anybody and extend the tax reductions for everybody. that was a bipartisan vote taken on -- rich: hold on one second. we have senator harry reid on the floor. dagen: there is senator harry reid. >> it is for the date only. they will. dagen: roughly ten minutes each. >> mr. president, i was disturbed to read in the washington post this morning that some kind of agreements are being made here. somehow, the democrats have agreed to raise the level. dagen: we will monitor what is going on on the senate floor. we will see if senator harry reid has more comments to make. rich, my apologies for interrupting you and the congresswoman. i handed off to you. rich: this is where any time a congressional leader shows up, we are all over it. congresswoman, you are saying, the house has already voted to extend the tax cuts. tax rates go up for everyone or possibly maybe that five that 500,000 threshold. is that something you can still support? >> it was going to b
>> they will increase taxes. we have voted to not raise taxes on anybody and extend the tax reductions for everybody. that was a bipartisan vote taken on -- rich: hold on one second. we have senator harry reid on the floor. dagen: there is senator harry reid. >> it is for the date only. they will. dagen: roughly ten minutes each. >> mr. president, i was disturbed to read in the washington post this morning that some kind of agreements are being made here. somehow, the...
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Dec 31, 2012
12/12
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tax rates. let's not add all of this wish-list that things democrats, president would like to see. let's not additional stimulus. let's not delay the sequester. if we're going to focus on one thing focus on one thing to see at least if we agree on that. we're try to get to a yes but if this ends up being christmas tree on christmas eve or new year's eve i think it i will difficult in the house. david: tim, you're kind of knew there, the fact that some people are so keptal about what is happening they're saying the president wants us to go over the fiscal cliff, that way taxes will go up for everybody and he will come in say, okay, i want to have the obama tax cuts for the middle class. no more will we hear about the bush tax cuts. from now on they will be the obama middle class tax cuts. do you believe that? >> well, don't forget the obama signed extension of these very tax cuts two years ago and said you don't raise taxes in the middle of a recession. we estimate a million small businesses will
tax rates. let's not add all of this wish-list that things democrats, president would like to see. let's not additional stimulus. let's not delay the sequester. if we're going to focus on one thing focus on one thing to see at least if we agree on that. we're try to get to a yes but if this ends up being christmas tree on christmas eve or new year's eve i think it i will difficult in the house. david: tim, you're kind of knew there, the fact that some people are so keptal about what is...
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Dec 28, 2012
12/12
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it became clear after john boehner put on the table keeping tax rates and taxes where they are for income amount of less than $1 million, not enough in cuts, you have to get democrats and republicans to bring this over the line in the house much like you have to do in the senate which is why this has to be worked out with a democrat and republican leaders in the white house later today in a last-ditch effort to get something done before new year's. adam: rich edson on his way to the white house. for more on the last-ditch talks to avoid the fiscal clip i am joined by heritage foundation budget expert and data analyst director bill beach. , the conspiracy theory, in actuality both sides want us to go over the cliff to restore spending cuts and can enact tax cuts for some of us. do you think there's any credibility to that? >> may be more than a conspiracy theory. they both want to go over the cliff. in some respects it is an interesting effect. going over the cliff would definitely pushed equities down. i can't imagine it would do anything other than that but that makes bonds strong brand
it became clear after john boehner put on the table keeping tax rates and taxes where they are for income amount of less than $1 million, not enough in cuts, you have to get democrats and republicans to bring this over the line in the house much like you have to do in the senate which is why this has to be worked out with a democrat and republican leaders in the white house later today in a last-ditch effort to get something done before new year's. adam: rich edson on his way to the white...
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Dec 28, 2012
12/12
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a sample of the device of a lander that is being tested negotiation government money, none of your taxes involved, 80ive innovation driven by entrepreneurs taking the risk. competition if a car that gets 100 miles per hour has drawn nearly 100 entrepreneurs. the design competition was first, the cars had to pass the looks test. these cars did. next is the race. 54 teams will compete to win. the man who raised the money if the prize and organizeed the organization is here. >> we have entrepreneurs and scientists and engineers to do what only government could do. >> peter joins us from los angeles. you have new prizes now? >> we do. we are having a lot of fun figuring where there could be breakthroughs that you not going on or being driven by large companies or government that is challenging entrepreneurs to make the impossible, possible. >> where do you get the money? who put up the x prize? >> the money, rlly, comes from a range of different groups, including individuals, and philanthropists and competitions or large corporations, progressive insurance or companies such as that, wanting
a sample of the device of a lander that is being tested negotiation government money, none of your taxes involved, 80ive innovation driven by entrepreneurs taking the risk. competition if a car that gets 100 miles per hour has drawn nearly 100 entrepreneurs. the design competition was first, the cars had to pass the looks test. these cars did. next is the race. 54 teams will compete to win. the man who raised the money if the prize and organizeed the organization is here. >> we have...
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Dec 27, 2012
12/12
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go. >> well, we can't see taxes go up on anybody across the board and we have to see the tax rates extended for everyone and-- >> that's not going to happen. >> that's not going to happen so who is going to pay more in taxes? you say we're going to have a deal and so who pays more in taxes? >> well, you know, with the senate back today and the president back today, hopefully we'll see outlines and-- >> come on. >> i'm not sure what's going on. stuart: you think they're going to get a deal. i want you to tell me the outlines of that deal. not what you hope for, what do you think is it going to happen. >> i'm not sure where the president and senator ree reid e going to draw the line. where the president before was 400,000 with speaker boehner at a million last week. >> let's suppose it's 250. do you think the republicans will accept that, the say go ahead and do it, do you think so? >> i think we have to look at what the whole package is going to be. taxes are part of it and then the spending side. while we we were in a spending crisis and that's driven by-- and sequestered and-- stuart: will
go. >> well, we can't see taxes go up on anybody across the board and we have to see the tax rates extended for everyone and-- >> that's not going to happen. >> that's not going to happen so who is going to pay more in taxes? you say we're going to have a deal and so who pays more in taxes? >> well, you know, with the senate back today and the president back today, hopefully we'll see outlines and-- >> come on. >> i'm not sure what's going on. stuart: you...
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Dec 27, 2012
12/12
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eye 86
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the house, they should just pass that bill that passed the senate earlier this year, one that extends tax rates for families earning less than $250,000 a year. so very much bit of a stalemate going on here in washington as we move ever closer to the deadline. back to you. ashley: my first reaction is, so what's new? >> not much. ashley: at least it is something. but the 31st is well, the very next day. >> right. ashley: if you look past the headlines about the gridlock in washington what do the fundamentals of the economy really look like? are they not that bad? and will 2013 be the year for you to make money? certainly hope so. mark luschini, janney montgomery scott analyst joining me in an fb. in exclusive. mark, thank you for being here. you are unabashedly bullish, which i love? >> i love the underlying economic fundamentals despite what is played out on the television. ashley: to that point. we're not in a fiscal cliff wrooefr in a fiscal slope. is it being overblown? >> the terminal factor that resides on 12/31 puts it into exclamation point for the media to put to and enlist eyebal
the house, they should just pass that bill that passed the senate earlier this year, one that extends tax rates for families earning less than $250,000 a year. so very much bit of a stalemate going on here in washington as we move ever closer to the deadline. back to you. ashley: my first reaction is, so what's new? >> not much. ashley: at least it is something. but the 31st is well, the very next day. >> right. ashley: if you look past the headlines about the gridlock in washington...
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117
Dec 30, 2012
12/12
by
WBAL
tv
eye 117
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quote 0
one, some of the major taxes will roll out, three big taxes that are going to fund, although not, we should be clear on this, the tax on high value health insurance plans provided by employers. that won't begin until 2018. you will see changes t in the medical delivery system itself. key performance for hospitals in terms of how they pay for services, moving away for pay for volume and towards pay for quality. those are going to roll out over the next year. come the end of next year 13, we will see the massive coverage expansion where many, many, many people get the tax credit to either get private insurance or get covered by medicaid. bestill expect the scale of that expansion by the beginning of 2014 to be in the range of 25 to 30 million people. they will be a lot of folks. beyond health care, it becomes a lot less certain. gun control, i wouldn't -- i expect a significant conversation. it is hard to imagine anything tremendously radical being done given both the come position of congress and due to now congress's powerful areas. >> mike, what's your ideas or predictions for the n
one, some of the major taxes will roll out, three big taxes that are going to fund, although not, we should be clear on this, the tax on high value health insurance plans provided by employers. that won't begin until 2018. you will see changes t in the medical delivery system itself. key performance for hospitals in terms of how they pay for services, moving away for pay for volume and towards pay for quality. those are going to roll out over the next year. come the end of next year 13, we will...
128
128
Jan 1, 2013
01/13
by
KCSMMHZ
tv
eye 128
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quote 0
first, taxes. democrats want to let tax cuts for the wealthy to expire but republicans are generally opposed to the plan. individuals would be hit with huge tax hikes if lawmakers cannot find common ground. second component of the fiscal cliff is large federal spending cuts. the cuts will take effect if the two parties fail to strike a deal. spending would be reduced in areas such as health care which democrats oppose. the defense budget would also be cut. republicans are against that happening. the u.s. congressional budget office says the sudden belt-tightening could cause negative growth by the fourth quarter of 2013. the unemployment rate is expected to rise above 9% if the economy dampens. the european and japanese economies are losing steam. economists are focusing on whether leaders can avoid the fiscal cliff and keep the economy on track. >>> u.s. markets have closed for the day. here are the closing figures. >>> >>> new japanese prime minister shinzo abe has given a new year address. he pr
first, taxes. democrats want to let tax cuts for the wealthy to expire but republicans are generally opposed to the plan. individuals would be hit with huge tax hikes if lawmakers cannot find common ground. second component of the fiscal cliff is large federal spending cuts. the cuts will take effect if the two parties fail to strike a deal. spending would be reduced in areas such as health care which democrats oppose. the defense budget would also be cut. republicans are against that...
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134
Jan 1, 2013
01/13
by
KCSMMHZ
tv
eye 134
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quote 0
they will have to swallow a new alcohol tax. russians are trying to laugh it off. >> i used to get to know a man and he would buy me a fine bottle of bubbly, now it barely buys a cheap sparkling wine. it is a real shame. >> the kremlin wants russians to drink less. alcohol ads banned since last summer and the new tax hike is an attempt to quench the country's thirst for hard liquor. many believe it is not dangerous if they only drink a little. but it is. you don't have to be an alcoholic to die from drinking too much. many do not take that seriously. >> in big cities like moscow temp rance is the latest buzz word among the rising middle class. but for many russians the love affair with vodka dies hard. >> a "new york times" correspondent has become the latest foreign journalist forced out of china. they have left beijing after authorities denied the reporter a new visa. >> after the "new york times" published critical articles about the chinese premiere. one report about the hidien wealth of his family prompted china to block th
they will have to swallow a new alcohol tax. russians are trying to laugh it off. >> i used to get to know a man and he would buy me a fine bottle of bubbly, now it barely buys a cheap sparkling wine. it is a real shame. >> the kremlin wants russians to drink less. alcohol ads banned since last summer and the new tax hike is an attempt to quench the country's thirst for hard liquor. many believe it is not dangerous if they only drink a little. but it is. you don't have to be an...
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334
Dec 27, 2012
12/12
by
KGO
tv
eye 334
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quote 0
the president is trying to hammer out a deal before major tax hikes and spending cuts kick in january 1st. this morning harry reid launched a scathing attack on house republicans for not returning to washington. >> i can't imagine their con chens they are out wherever -- consciences they are out wherever they are and we are trying get something done. >> newly appointed senator flew back with the president today, left governor currently will replace the late senator daniel inouye. >>> that looming fiscal cliff is having a huge effect on the stock market today. you can see the dow is down 135 points over 1%, consumer confidence very low because of concerns that fiscal cliff will cause taxes to rise for everyone if congress tpaeults to work to the. >>> former president george higgs boson bush remains in intensive care he is -- george h.w. bush remains in intensive. doctors suspected he would be home in time for christmas but his condition worsened, he is alert and talking to hospital staff. >>> there is a bright spot for the economy, new homes selling at fastest past in more than 2 1/2 y
the president is trying to hammer out a deal before major tax hikes and spending cuts kick in january 1st. this morning harry reid launched a scathing attack on house republicans for not returning to washington. >> i can't imagine their con chens they are out wherever -- consciences they are out wherever they are and we are trying get something done. >> newly appointed senator flew back with the president today, left governor currently will replace the late senator daniel inouye....
165
165
Jan 1, 2013
01/13
by
KRCB
tv
eye 165
favorite 0
quote 0
first, taxes. democrats want to let tax cuts for the wealthy to expire but republicans are generally opposed to the plan. individuals would be hit with huge tax hikes if lawmakers cannot find common ground. second component of the fiscal cliff is large federal spending cuts. the tsill ta effecif t two parties fail to strike a deal. spending would be reduced in areas such as health care which democrats oppose. the defense budget would also be cut. republicans are against that happening. the u.s. congressional budget office says the sudden belt-tightening could cause negative growth by the fourth quarter of 2013. the unemployment rate is expected to rise above 9% if the economy dampens. the european and japanese economies are losing steam. economists are focusing on whether leaders can avoid the fiscal cliff and keep the economy on track. >>> u.s. markets have closed for the day. here are the closing figures. >>> new japanese prime minister shinzo abe has given a new year address. he promised to revi
first, taxes. democrats want to let tax cuts for the wealthy to expire but republicans are generally opposed to the plan. individuals would be hit with huge tax hikes if lawmakers cannot find common ground. second component of the fiscal cliff is large federal spending cuts. the tsill ta effecif t two parties fail to strike a deal. spending would be reduced in areas such as health care which democrats oppose. the defense budget would also be cut. republicans are against that happening. the u.s....
203
203
Dec 29, 2012
12/12
by
KGO
tv
eye 203
favorite 0
quote 0
then, income taxes will go up across the board, every tax bracket. we're talking about real money for every household. for instance, a single parent with two kids making $37,000 a year, she'll get walloped with a $2800 plus tax increase. a married couple with a kid in college making about $137,000, that's $8,000 more in taxes on that family. and if you're really rich, say lebron james rich, $53 million a year, cough up $2.4 million more to uncle sam. and that's not all. two million americans who lost their jobs are getting help through unemployment benefits. at the stroke of midnight on january 1st, they get stiffed not a dime more. >> the federal help for unemployment benefits will go away. >> that's real pain for people who are already suffering. >> yes. and it's also an immediate removal of economic activity from the economy, because if you get unemployment benefits, that money gets spent into the economy relatively quickly. >> and the hits just keep oncoming. capital gains taxes, up 5%. the child tax credit cut in half from a thousand dollars per
then, income taxes will go up across the board, every tax bracket. we're talking about real money for every household. for instance, a single parent with two kids making $37,000 a year, she'll get walloped with a $2800 plus tax increase. a married couple with a kid in college making about $137,000, that's $8,000 more in taxes on that family. and if you're really rich, say lebron james rich, $53 million a year, cough up $2.4 million more to uncle sam. and that's not all. two million americans...
SFGTV: San Francisco Government Television
95
95
Dec 27, 2012
12/12
by
SFGTV
tv
eye 95
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to one $.6 billion paid in excess taxes generated from this site. pier 70 is a bit more complicated in that it's divided into a number of districts and a master plan starting in 2,007 and the commission chose to let out pourings of this site in sort-of a segmented manner and the water personal property site is the site under contract for a city development or in development is managing the rehabilitation of the historic buildings along 20th street, we have our ship repair under least and you have heard david talk about cran copark. four city's this the process of doing due diligence for the property right now and they are concerned that it's sea level rise and the city's team will be consulting with the chief hash engine here about raising the grade of this site so it's not subject to innonedation in the future. very interesting engineering constraints at pier 70 there were slip ways built by the federal government to facility ship repairs and it's difficult to buildbled on those and that is blue line that you see here and that is demarks the only s
to one $.6 billion paid in excess taxes generated from this site. pier 70 is a bit more complicated in that it's divided into a number of districts and a master plan starting in 2,007 and the commission chose to let out pourings of this site in sort-of a segmented manner and the water personal property site is the site under contract for a city development or in development is managing the rehabilitation of the historic buildings along 20th street, we have our ship repair under least and you...
135
135
Dec 29, 2012
12/12
by
LINKTV
tv
eye 135
favorite 0
quote 1
and, instead of voting for a tax increase, they are voting for a tax cut. the same policy, when you are voting for it on january 4, would be a tax cut. today, it would be a tax increase. it is a weird way of thinking about it, but we are a strange land, in terms of u.s. policy right now. heather is a sense the entire dynamic would change if we get a few days into the new year without a deal. the white house feel they have gone close to as far as they can go in terms of an offer. the have adjusted their proposal on tax increases so they would only go up on those making $400,000 a year, not $250,000 a year. they want real concessions out of the republicans before the agreed to everything. they do not want to negotiate against themselves and throw in the towel when they do not need to. >> what does it mean for the world economy if the u.s. does fall off this fiscal cliff, even if only for a few days? >> if we have learned anything the last few years, it is how connected this economy is. the european crisis has the image of the world economy. the sub from price
and, instead of voting for a tax increase, they are voting for a tax cut. the same policy, when you are voting for it on january 4, would be a tax cut. today, it would be a tax increase. it is a weird way of thinking about it, but we are a strange land, in terms of u.s. policy right now. heather is a sense the entire dynamic would change if we get a few days into the new year without a deal. the white house feel they have gone close to as far as they can go in terms of an offer. the have...
253
253
Dec 27, 2012
12/12
by
KOFY
tv
eye 253
favorite 0
quote 0
the president is trying to hammer out a deal before major tax hikes and spending cuts kick in january 1st. this morning harry reid launched a scathing attack on house republicans for not returning to washington. >> i can't imagine their con chens they are out wherever -- consciences they are out wherever they are and we are trying get something done. >> newly appointed senator flew back with the president today, left governor currently will replace the late senator daniel inouye. >>> that looming fiscal cliff is having a huge effect on the stock market today. you can see the dow is down 135 points over 1%, consumer confidence very low because of concerns that fiscal cliff will cause taxes to rise for everyone if congress tpaeults to work to the. >>> former president george higgs boson bush remains in intensive care he is -- george h.w. bush remains in intensive. doctors suspected he would be home in time for christmas but his condition worsened, he is alert and talking to hospital staff. >>> there is a bright spot for the economy, new homes selling at fastest past in more than 2 1/2 y
the president is trying to hammer out a deal before major tax hikes and spending cuts kick in january 1st. this morning harry reid launched a scathing attack on house republicans for not returning to washington. >> i can't imagine their con chens they are out wherever -- consciences they are out wherever they are and we are trying get something done. >> newly appointed senator flew back with the president today, left governor currently will replace the late senator daniel inouye....
123
123
Dec 30, 2012
12/12
by
CSPAN2
tv
eye 123
favorite 0
quote 0
it's a tax on the value of the equipment or the land that has already been taxed with a property tax or a tax on the equipment. so there is a reason to have some accommodation in the death tax so that we will not face more unemployed people who work for a family-owned business or farm, and that is a -- it is if not the number-one issue of the farm bureau of this country, it's certainly in the top two or three because they know, they know what it's like to have to sell land that is not productive at a value that is not realistic and pay a tax, and a 55% tax is pretty confiscatory. so, mr. president, i do hope that we can come together on a bipartisan basis because if we don't come together on a bipartisan basis, nothing will get done because we have the house that is looking to the united states senate, that is supposed to be the adult in the room, and they are looking at us to see how the votes turn out. and we need a large majority on both sides of the aisle to accepted to the house something that has a firm stamp of approval from this body. and we need the president to be a player
it's a tax on the value of the equipment or the land that has already been taxed with a property tax or a tax on the equipment. so there is a reason to have some accommodation in the death tax so that we will not face more unemployed people who work for a family-owned business or farm, and that is a -- it is if not the number-one issue of the farm bureau of this country, it's certainly in the top two or three because they know, they know what it's like to have to sell land that is not...
168
168
Jan 1, 2013
01/13
by
WETA
tv
eye 168
favorite 0
quote 0
technically there are tax rises and spending cuts brought in. that hasn't happened because it is a public holiday right now. so, that would come into effect. you are right. they are running out of time. there is a new congress on thursday. anything that is still up in the air if not resolved by then it will fall and they will have to go back to the drawing board. in the end there will be a deal. but while the uncertainty continues it will hurt the american economy. >> thanks. fierce clashes have erupted as rebels targeted the airport which is now closed to limit the movement of government forces. the syrian army has been surrounding areas after what they described as clashes with armed terrorist group. the iranian navy tested ship missiles in a drill iran warned off foreign surveillance planes that tried to approach their forces during the drill. people in athens started their new year without metro or train services as workers go on strike. they oppose further cuts and their inclusions in the single payroll. seven charity workers, six women hav
technically there are tax rises and spending cuts brought in. that hasn't happened because it is a public holiday right now. so, that would come into effect. you are right. they are running out of time. there is a new congress on thursday. anything that is still up in the air if not resolved by then it will fall and they will have to go back to the drawing board. in the end there will be a deal. but while the uncertainty continues it will hurt the american economy. >> thanks. fierce...
181
181
Dec 27, 2012
12/12
by
KBCW
tv
eye 181
favorite 0
quote 0
and in just six days, a 2% payroll tax is set to expire, along with the bush-era tax cuts, shrinking the average worker's paycheck in 2013 by about $1,500. long-term unemployment benefits for about 2 million jobless americans are also set to expire, and $110 billion worth of spending cuts to domestic and defense programs will kick in, forcing layoffs in the public and private sector. if congress doesn't act, all the cuts and new taxes will squish the economy back into a mild recession by mid-2013. the impact of some of these new cuts and taxes wouldn't be felt immediately on january 1st because the irs and other agencies didn't expect it to come to this. it could be a few weeks before workers see more money being withheld in their paychecks. >>> george h. w. bush is in intensive care. a fever that kept him in the hospital over christmas has gotten worse. a bush family spokesperson says the 88-year-old was alert and joking with doctors but has yet to respond to fever re-reduce reducing medication. >>> there is a settlement in the runaway car debacle. the payout coming to million was t
and in just six days, a 2% payroll tax is set to expire, along with the bush-era tax cuts, shrinking the average worker's paycheck in 2013 by about $1,500. long-term unemployment benefits for about 2 million jobless americans are also set to expire, and $110 billion worth of spending cuts to domestic and defense programs will kick in, forcing layoffs in the public and private sector. if congress doesn't act, all the cuts and new taxes will squish the economy back into a mild recession by...
157
157
Dec 26, 2012
12/12
by
KCSMMHZ
tv
eye 157
favorite 0
quote 0
president is asking congressional executives to compile a compromise plan that features continued tax cuts for the middle class. that represents a shift in his policy that called for higher taxes on the wealthy, along with measures to cut the fiscal deficit. talks between democrats and republicans came to a standstill last week. a deal still remains uncertain. the republicans canceled a vote on their compromise plan. that's because many republicans remain opposed to any kind of tax hikes. >>> china has opened what it calls the world's longest high-speed rail line. the railway links the capital city of beijing and ghangzhou in the south. shun ishibe have more. >> reporter: the first high-speed train for beijing is about to leave guangzhou south railway station. many passengers are carrying coats, because the temperature in beijing is about 20 degrees centigrade lower than here in guangzhou. the new line stretches nearly 2,300 kilometers, including a section already in service. the trip between the two cities will take about eight hours instead of the current 20 1/2 hours. china says it
president is asking congressional executives to compile a compromise plan that features continued tax cuts for the middle class. that represents a shift in his policy that called for higher taxes on the wealthy, along with measures to cut the fiscal deficit. talks between democrats and republicans came to a standstill last week. a deal still remains uncertain. the republicans canceled a vote on their compromise plan. that's because many republicans remain opposed to any kind of tax hikes....
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192
Dec 26, 2012
12/12
by
KTVU
tv
eye 192
favorite 0
quote 0
let me guess - higher taxes? that's one of many things that will be chaning. gail marks jarvis is a personal finance columnist. she's also the author of "saving for retirement without living like a pauper or winning the lottery." and you expect kind of across-the-board tax increases at some point for everyone. > > right. it might not happen early in the year, we will have to see. i expect congress and the president are still going to be fighting about what our taxes are going to be early in the year. but eventually, maybe late traders head back to a post- holiday trading session. what's in store for the shortened week. in today's cover story, minimum wage is on the rise. the effect on the labor market. plus, scammers have been naughty this holiday season. why checking your credit card statement is a nice idea. the financial pitfalls that could put a snag in your savings in 2013. and, bad business blunders. how corporations this year are attempting to recover reputations. first business starts now. you're watching first business: financial news, analysis, and t
let me guess - higher taxes? that's one of many things that will be chaning. gail marks jarvis is a personal finance columnist. she's also the author of "saving for retirement without living like a pauper or winning the lottery." and you expect kind of across-the-board tax increases at some point for everyone. > > right. it might not happen early in the year, we will have to see. i expect congress and the president are still going to be fighting about what our taxes are going to...
21
21
tv
eye 21
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purposes of tax policy it's not a major purpose of tax policy all taxes manipulate behavior but let's try to keep that to a minimum keep the tax base simple and broad why not why not use tax policy to reduce behavior this destructive the economy flash that's pleasures rations and i don't think freedom i mean do you know would you have a problem i mean do you have a problem with the fact that there are robots making millions of trades every minute on wall street and. we saw in the flash crash of two thousand and ten or something like that where the market dropped a thousand points and nobody knew we were exactly why and i think there was a huge risk to the financials and i don't have a problem with anybody losing billions of dollars because on the other side of that transaction somebody made billions nobody just wins and loses there's always someone on the other side of the transaction but this is really big i mean these are these are robots that have programs in them that they're doing this people are making trades to invest in companies that they think are going to do well or you kno
purposes of tax policy it's not a major purpose of tax policy all taxes manipulate behavior but let's try to keep that to a minimum keep the tax base simple and broad why not why not use tax policy to reduce behavior this destructive the economy flash that's pleasures rations and i don't think freedom i mean do you know would you have a problem i mean do you have a problem with the fact that there are robots making millions of trades every minute on wall street and. we saw in the flash crash of...